BoE’s Bailey: Stresses on maintaining financial stability
Bank of England (BoE) Governor Andrew Bailey stated during the European trading session on Tuesday that the focus on maintaining financial stability has become more important than ever, given increased risks.
Additional remarks
Given increased risks, maintaining focus on financial stability is more important than ever.
Risks to financial stability have risen.
Most important thing we can do for economic growth is support financial stability.
I would expect banks to support the economy through lending following capital changes.
Have to maintain lessons of the financial crisis.
We looked very closely at the report. The BoE uses different release procedures, when asked on OBR leak.
Supervision on Dollar funding is much tighter than before the global financial crisis.
If we see very big deregulation moves in the US, there will need to be frank conversations,
Putting budget through our own monetary policy assessment.
All of us must focus on raising potential growth.
Need more investment in the real economy.
Market reaction
GBP/USD declines to near 1.3180 while BoE’s Bailey delivered remarks on financial stability. However, the US Dollar has also moved higher during the time of writing.
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.07% | 0.20% | 0.37% | 0.07% | -0.04% | 0.24% | -0.00% | |
| EUR | -0.07% | 0.14% | 0.31% | 0.00% | -0.11% | 0.17% | -0.07% | |
| GBP | -0.20% | -0.14% | 0.16% | -0.14% | -0.27% | 0.03% | -0.21% | |
| JPY | -0.37% | -0.31% | -0.16% | -0.31% | -0.42% | -0.15% | -0.38% | |
| CAD | -0.07% | -0.00% | 0.14% | 0.31% | -0.11% | 0.17% | -0.07% | |
| AUD | 0.04% | 0.11% | 0.27% | 0.42% | 0.11% | 0.28% | 0.04% | |
| NZD | -0.24% | -0.17% | -0.03% | 0.15% | -0.17% | -0.28% | -0.24% | |
| CHF | 0.00% | 0.07% | 0.21% | 0.38% | 0.07% | -0.04% | 0.24% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Author
Sagar Dua
FXStreet
Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.
